Just like most Middle Eastern countries, the majority of the population in the United Arab Emirates is made up of expats and immigrants. Yet no matter how long have you lived and worked in the UAE it is almost impossible to get UAE citizenship, unlike in many Western countries like the UK, USA, or Canada.
But things are gradually changing in UAE and while they still don’t offer an outright UAE citizenship so easily, they are now offering the next best thing in the form of a UAE Golden Visa. The UAE government started handing out this new visa in 2019 in a bid to attract more talent to the country.
If you are living and working in the UAE then you will find that there are many benefits of a UAE Golden Visa and in this guide, we will share those benefits as well as the requirements you need to fulfill to get the visa and the costs associated with the whole process.
What is a UAE Golden Visa?
The golden visa in the UAE is a long-term residential visa that was introduced by the government in 2019. People with a UAE golden visa can study, work, and reside in the UAE for a period of 5 or 10 years at a time, after which it needs to be renewed again.
The United Arab Emirates is slowly transforming itself into a major tourism and business hub in the world and to make this possible they have introduced this visa to attract more investors, entrepreneurs, and exceptional talent by making the residence and work process easier for them.
People with a golden visa don’t need a sponsor, they can easily bring their family with them, and depending on the kind of work they do and the field they are in, this visa can smooth their pathway to complete UAE citizenship.
What are the benefits of Golden Visa UAE?
There are many Golden Visa benefits that put it above and beyond other residential and work visas that the UAE offers and here is a look at some of its biggest benefits.
- Other residency and work visas need to be renewed almost every year but a golden visa is only renewed every 5 or 10 years.
- With other work and residency visas, you require a sponsorship from a UAE citizen, but with a golden visa that is not a requirement and you are free to run your business as you want.
- With a golden visa in the UAE, you don’t need to reside full-time in the country. All you have to do is visit once or twice a year and there is no restriction on the number of entries into the country.
- With a UAE golden visa, you can automatically bring your family with you, not only that but also allows for visas for your domestic help.
- The golden visa smoothlines the property ownership processes and you can easily purchase and maintain properties in the UAE, even outside the free zones.
- With a golden visa, the general restrictions that apply on most work visas don’t apply to you, so it makes getting a job in the UAE much easier.
- Lastly, the living standards in the UAE are exceptionally good, so if you are living long-term in UAE with a golden visa you get access to some of the best education and healthcare system for you and your family.
What are the many Golden Visa Requirements in the UAE?
In order to get the Golden Visa in UAE you need to meet certain requirements and these requirements vary depending on the type of golden visa you are getting. Here are the four broadest categories and their requirements that allow you to get a golden visa.
Requirements for Investors
You need to make an investment of at least AED 10 million in the UAE. This investment can be made in the public sector, real estate, or any kind of mutual fund. By making such an investment you automatically become eligible for a 10-year golden visa.
The only requirement is that you need to completely own the capital you are investing the country and it cannot be a loan.
Requirements for Entrepreneurs
For entrepreneurs and startups who are just starting their business in the UAE, the investment limit is a bit less strict, and as long as their business is worth AED 500,000 or more, they are eligible for a 5-year golden visa.
Requirements for Students
UAE also issues golden visas to exceptional students and the requirements are they need to have a cumulative GPA of 3.5 or more if they are university students and if they are from high school then they need to have 95 % or higher marks and they can get a 5-year visa.
The other requirement is that the university needs to be a grade A university as per UAE standards. If it is a grade B university then the GPA requirement goes up to 3.8. If the university has an A grade and is ranked in the top 100 in the world then the student is eligible for a 10-year golden visa.
Requirements for Exceptionally Talented
The exceptionally talented is a very broad category that covers a plethora of different talents. It is basically for those people who are at the top of their respective fields or have done exceptional work. This covers everyone from doctors, engineers, scientists, business executives, inventors, PHDs and more.
This category also covers the performance and creative arts fields and talented people like athletes, artists, directors, etc. are also covered. Lastly, frontline heroes like nurses, first responders, humanitarians, etc. are also covered in this category.
UAE Golden Visa Fee and Related Costs
These are the main fees that you need to pay to get a Golden Visa in UAE.
- Residence permit fee: AED 1,100
- Knowledge dirham: AED 10
- Innovation dirham: AED 10
- Fee inside the country: AED 500
Other than that, there might be additional costs that you may need to pay like medical insurance, additional visa fees for your dependents, transaction charges etc.
